HCM City, 8th March, 2018
PRESS RELEASE
The U.S. Department of Commerce released today the preliminary results of the 12th administrative review of the antidumping order on frozen warmwater shrimp from Vietnam. The calculated rate for the sole mandatory exporter, Sao Ta Seafoods Joint Stock Company (FIMEX VN), was announced as 25.39%. Because FIMEX was the only mandatory respondent in the proceeding, its rate was also deemed to be the appropriate rate for all other companies that Commerce decided were independent of the Vietnamese Government. FIMEX VN, the Vietnam Association of Seafood Exporters and Producers (VASEP), and all of its members are very concerned about this result and believe that it was issued in error.
For multiple years now, Vietnamese exporters have been examined during the administrative review process and none of them have received a dumping margin higher than a single-digit percentage rate. Indeed, FIMEX VN was examined in the 9thadministrative review and received a rate of 0%. “We are shocked by this result”, said Mr. Luc, FIMEX VN’s General Director. “We expected a rate of less than 2%, consistent with the result we received in the 9th review. Clearly, the Commerce Department made a mistake. Fortunately, this is only a preliminary decision, and we have the opportunity to show Commerce why this rate is obviously wrong.”
Indeed, careful analysis of the Commerce Department dumping margin program shows that they applied a conversion factor from headless to head-on shrimp incorrectly. If the conversion had been applied correctly, the margin would be only 1.19%.
FIMEX VN was scheduled to have a verification with U.S. Commerce Department officials in January, but the verification was postponed due to the U.S. Government shutdown. “We were ready for that verification, and I am sure we would have shown Commerce Officials why our rate was much lower”, said Mr. Luc. The verification has been rescheduled to July this year, and there will also be an opportunity to argue in briefs why the decision was made in error. VASEP and FIMEX VN are confident the rates announced today will be reduced in the final results expected to be issued in September. In the meantime, fortunately, the preliminary rate has no effect; it is only announced in order to allow the parties to argue why it is correct or not. No new rate will be imposed until the final results are issued./.
(seafood.vasep.com.vn) By the end of 2025, Vietnam’s seafood industry had left a strong mark with export turnover reaching nearly $11.3 billion, up 12.4% year-on-year. This robust performance reflects not only a rebound in global consumption demand but also the agile adaptation of domestic firms in navigating increasingly stringent trade barriers.
(seafood.vasep.com.vn) According to the 2025 review and 2026 outlook conference held by the Directorate of Fisheries and Fisheries Surveillance on the afternoon of January 7, Vietnam’s seafood sector has set a total production target of over 10 million tons in 2026, representing a 0.6% increase year-on-year. Of this total, capture fisheries are projected at around 3.75 million tons (down 2.1%), while aquaculture output is expected to reach 6.25 million tonnes (up 2.2%) compared with 2025.
(seafood.vasep.com.vn) Sao Ta Food JSC (Fimex, Ticker: FMC) has announced its 2025 business results, reporting revenue of over $300 million (approximately 7.8 trillion VND), representing a 19.8% increase year-on-year; projected profit is expected to reach approximately 420 billion VND.
(seafood.vasep.com.vn) Vietnam’s fisheries sector concluded 2025 with landmark achievements: export turnover reached a record high, despite heightened volatility in global trade and increasingly stringent barriers from major markets, most notably the United States. Amid a mix of opportunities and challenges, the fisheries sector also witnessed important policy shifts. Together, these developments form a multifaceted picture of an industry proactively adapting and restructuring toward a trajectory of sustainable development.
(seafoos.vasep.com.vn) According to the Department of Agriculture and Environment of Vinh Long, the province’s shrimp farming area reached 69,800 hectares in 2025, including 7,500 hectares under high-tech farming models, 18,820 tons of black tiger shrimp and 293,000 tons of whiteleg shrimp.
(seafood.vasep.com.vn) Building on a robust growth momentum in 2025, Nghe An province has set a strategic goal to reach a total fisheries output of 270,000 tons by 2026, reinforcing its position as a key hub for aquaculture and exploitation.
(seafood.vasep.com.vn) Can Tho City statistics indicate that in 2025, following the merger of three former administrative entities - Can Tho, Hau Giang and Soc Trang - fisheries output in 2025 increased by 6.23% compared with 2024 with aquaculture production nearly 9.1 times higher than capture fisheries.
(seafood.vasep.com.vn) According to the Ca Mau Department of Agriculture and Rural Development, Ca Mau province has achieved significant, comprehensive and substantive progress in combating IUU fishing in 2025, successfully fulfilling all tasks directed by the central government and strengthening fisheries governance. These efforts have established a solid foundation for the nationwide effort to lift the EC’s "yellow card" warning.
(seafood.vasep.com.vn) Ca Mau has exceeded its 2025 production targets, reaching nearly 595,000 tons of shrimp. This milestone reinforces the province’s position as Vietnam’s leading shrimp producer and a bright spot in the country’s seafood sector.
(seafood.vasep.com.vn) According to Vietnam Customs data, cumulative shrimp exports from the beginning of the year through November reached $4.3 billion, up 21% year-on-year, continuing to serve as the primary growth driver of the entire seafood sector. In November alone, export turnover amounted to $393 million, up 14%.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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